Interest rates are "soaring" and TLT is in the throes of another leg down. Our TLT Puts don't expire until December, so there is no time pressure this week. Nonetheless, our position has tripled, so taking some gains now and rolling over into an out-of-the-money strike is an option for more active/aggressive traders. Alternatively, take some profits and hold the rest through December monthly expiration. TLT Dec 15th Puts CHARTS TLT Daily Interest Rates "Soaring" The US 10 Year Treasury can see double digit yields some time in the first half of 2024. That would send TLT plummeting into the $60's. TLT key support @ $80.
